Doral Financial Corporation · San Juan, PR United States ·(NYSE: DRL)
Company Description
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This link will open in a new window The Caribbean is home to more than just sun and fun. Doral Financial offers mortgage, retail, and business banking in Puerto Rico. Traditionally known as a mortgage-banking concern, the company has refocused its efforts to become a broader based community banking institution. The company's Doral Bank has about 40 branches in the Commonwealth. In addition to mortgages, the company offers construction, business, consumer, and other loans. Besides providing mortgage banking services through Doral Bank, the company sells insurance products through Doral Insurance Agency. A group of institutional investors led by
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Key Doral Financial Corporation Financials
| Company Type | Public - NYSE: DRL Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $257.0 |
| 2008 Employees | 1,199 |
Doral Financial Corporation Executives
24 executives listed for Doral Financial Corporation's San Juan, PR location.
| Title | Name & Bio | Contact |
| Chairman | Dennis Buchert | Network |
| President, CEO, and Director; President and CEO, Doral Bank Puerto Rico | Glen Wakeman | Network |
| EVP and COO | Gerardo Leiva | Network |
Competition
Competitive Landscape for Doral Financial Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Doral Financial Corporation Competitors
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